NYC to high court: Review ban ruling

The state’s highest court should consider New York City’s first-of-its-kind effort to cut down on big, sugary soft drinks, city lawyers argued in a request made public Monday.

The request had been expected after a midlevel appeals court ruled last week against the measure. It would put a 16-ounce size limit on nondiet sodas and other high-calorie soft drinks sold at many eateries.

A judge had blocked the size cap in March, shortly before it was set to take effect at restaurants, movie theaters, food carts and some other establishments.

LME, Goldman sued

HONG KONG

The London Metal Exchange and Goldman Sachs are being sued in a U.S. court over purported anti-competitive and monopolistic behavior in aluminum storage.

The metal exchange will fight the class-action lawsuit, which its management believes is without merit, the LME’s owner, Hong Kong Exchanges and Clearing Ltd., said in a statement late Sunday.

Wall Street banks are facing increased scrutiny of their involvement in businesses that store and transport commodities such as oil and aluminum.

The LME and Goldman Sachs Group Inc. are named as co-defendants in the suit alleging “anti-competitive and monopolistic behavior in the warehousing market in connection with aluminum prices.”

The lawsuit was filed Aug. 1 by lead plaintiff Superior Extrusion Inc., a maker of aluminum tubing and beams, in U.S. District Court for the Eastern District of Michigan.